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Strategies & Market Trends : Bitcoin
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To: Elroy who wrote (907)5/24/2021 6:04:31 PM
From: Doren  Read Replies (1) of 963
 
> trying to time the anticipated collapse

Of course they are. Trying to time stocks is hard enough, but at least there's something to base it on... a very profitable company with a low P/E and a good outlook is not going to crash long term.

With Bitcoin there's absolutely NOTHING to base your investment on... people just pick a time out of the thin air. Supposedly its price is based on its limited supply... the problem with that is there are better coins now and as time goes on more and more better coins or NFTs will be developed.

Winnings always migrate from bonds to stocks to art to real estate to cash to gold... this is just a case of people taking their money off the table and putting it in better places. Winnings are going to migrate from one crypto to the next... as we see Etherium gaining in the past year against Bitcoin, but something will probably replace Etherium too.

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There will always be new schemes to make money without working... most will lose, some will gain.

It reminds me when I lived near casinos in South Lake Tahoe and people would visit and tell me they were winners. Short term maybe. They never were long term.

This crash took money out of some people's pockets and put it in the pockets of others... and the algo guys will be the ultimate big winners, just like the casinos.
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